Digital Freight Forwarding Market Share, Trends, Revenue, Growth Drivers, CAGR Status, Key Players, Challenges and Competitive Analysis till 2033


Digital Freight Forwarding Market Share, Trends, Revenue, Growth Drivers, CAGR Status, Key Players, Challenges and Competitive Analysis till 2033: SPER Market Research

 Published: Mar-2024
 Author: SPER Analyst

Digital Freight Forwarding Market is projected to be worth USD 42.97 billion by 2033 and is anticipated to surge at a CAGR of 23.31%.

Many advantages come with digital freight forwarding, including enhanced consumer buying experiences, higher traceability, better documentation management, and interaction with pre-existing platforms. It can handle a variety of issues and even lessen the requirement for face-to-face communication. Modern technology and services for the logistics value chain are also a part of digital freight forwarding. Due to these advantages over conventional freight forwarding, more firms are using it, which is fostering the market's expansion.

Global Digital Freight Forwarding Market Driving Factors and Challenges
The e-commerce sector's growth and the rise in free trade agreements are two main reasons driving the worldwide digital freight forwarding market's expansion. Nevertheless, the market's expansion is hampered by inadequate infrastructure, increased logistical costs, and strict air freight laws. Conversely, the increase in the use of multi-modal systems for e-commerce logistics and the decrease of costs and lead times resulting from their adoption are anticipated to create new opportunities for market expansion throughout the course of the projected period.

Inadequate infrastructure and increased logistics expenses An efficient logistics system requires sophisticated infrastructure, a well controlled supply chain, and trade facilitation legislation .Lack of these forces logistics firms to make costly investments in raising working capital and stock reserves, which can hurt their ability to compete on a regional and national level. The underdevelopment of infrastructure in many nations causes costs to rise and supply chain reliability to decrease, further impeding logistics.

Impact of COVID-19 on Global Digital Freight Forwarding Market
The market for freight forwarding was greatly disrupted by the COVID-19 outbreak. Logistics issues and demand were lessened as a result of supply chain interruptions, travel restrictions, and lockdowns. Variations in the amount of trade worldwide had an impact on freight movements, which changed the usual trade routes. Operations were further hindered by port congestion and a shortage of air freight capacity. Demand for critical items increased, but shipments to non-essential industries declined. In the aftermath of the COVID-19 pandemic, the freight forwarding industry recovered by adjusting to the new normal. Businesses implemented digital solutions for remote operations, improved supply chain visibility, and realigned logistics networks. As economies began to open again, capacity gradually improved and trade volumes increased.

Global Digital Freight Forwarding Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Deutsche Post DHL Group, Descartes Kontainers, Flexport Inc., Forto GmbH, Icontainers, Kuehne+Nagel International AG, Turvo Inc., Twill, Transporteca, Uber Freight LLC.

Global Digital Freight Forwarding Market Segmentation:

By Transport Mode: Based on the Transport Mode, Global Digital Freight Forwarding Market is segmented as; Land. Air, Sea.

By Function: Based on the Function, Global Digital Freight Forwarding Market is segmented as; Warehouse Management, Transportation Management.

By Vertical: Based on the Vertical, Global Digital Freight Forwarding Market is segmented as; Retail and E Commerce, Healthcare, Automotive, Manufacturing, Others.

By Deployment Mode: Based on the Deployment Mode, Global Digital Freight Forwarding Market is segmented as; Cloud, On Premesis.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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